Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
Watch 1.1100.
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Pivot (invalidation): 1.1040
Our preference
Long positions above 1.1040 with targets at 1.1085 & 1.1100 in extension.
Alternative scenario
Below 1.1040 look for further downside with 1.1015 & 1.0990 as targets.
Comment
The RSI advocates for further upside.
GBP/USD
Bullish bias above 1.2310.
Pivot (invalidation): 1.2310
Our preference
Long positions above 1.2310 with targets at 1.2365 & 1.2380 in extension.
Alternative scenario
Below 1.2310 look for further downside with 1.2285 & 1.2260 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/JPY
Target 108.55.
Pivot (invalidation): 107.95
Our preference
Long positions above 107.95 with targets at 108.25 & 108.55 in extension.
Alternative scenario
Below 107.95 look for further downside with 107.65 & 107.50 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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